Income Tax : It is very important for those who file income tax returns to be aware of the deadline, so that there is no panic at the last minute and your work is completed without penalty.
Along with this, it is also necessary for taxpayers to be aware of the new rules and laws related to income tax. Missing the deadline can sometimes lead to legal proceedings. The Income Tax Department has issued a calendar regarding deadlines and important dates for the convenience of taxpayers. Keeping these dates in mind, you can complete all your work within the stipulated time. Here we have given complete information about the important dates related to income tax return.
According to the tax calendar given on the official website of Income Tax Department, the important dates of May 2023 are as follows
07 May 2023
The last date for depositing TCS and TDS collected in April is May 7, 2023. This TDS is deducted on the earnings of the employees, which is deposited by the employer with the Income Tax Department by the 7th of every month.
15 May 2023
Last date for issue of TDS certificate for tax deducted under section 194-IA in the month of March 2023
Last date for issue of TDS certificate for tax deducted under section 194-IB in the month of March 2023
Last date for issue of TDS certificate for tax deducted under section 194M in the month of March 2023
Last date for issue of TDS certificate for tax deducted under section 194S in the month of March 2023
Apart from this, the last date for submission of Form 24G as well as submission of TDS-TCS without challan for April has also been fixed as May 15. Not only this, the deadline for submission of TCS statement for the March quarter is also May 15.
30 May 2023
Such non-resident Indians who run their company in the country will have to submit the statement of Form 49C for the financial year 2022-23 by 30 May. Apart from this, the last date for submission of challan statement of TDS deducted under section 194-IA, 194M, 194-IB and 194S in the month of April is also 30th May. Apart from this, the TCS certificate for the fourth quarter will also be submitted on May 30.
31 May 2023
This is the last date for refund of tax deducted from contributions paid by the trustees of an approved superannuation fund.
Further, the last date for furnishing of statement of financial transactions (in Form No. 61A) under sub-section (1) of section 285BA of the Act for the financial year 2023-24 is . It is also the deadline for e-filing of Annual Statement of Reportable Accounts.
May 31 is also the deadline for non-resident Indians who are MD, director, partner, trustee, author, founder or CEO of a company in India to apply for PAN.
31st May is the last date for making application in Form 9A for exercising the option available under section 11(1) to apply for the income of the previous year in the next year or in future.